Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Telemus Capital LLC

Telemus Capital LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,708 shares of the industrial products company’s stock after selling 91 shares during the period. Telemus Capital LLC’s holdings in Illinois Tool Works were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC raised its position in shares of Illinois Tool Works by 2.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 41 shares during the period. Nicolet Advisory Services LLC raised its position in shares of Illinois Tool Works by 4.5% in the third quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 46 shares during the period. PFG Advisors raised its position in shares of Illinois Tool Works by 0.7% in the fourth quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after acquiring an additional 46 shares during the period. Crestwood Advisors Group LLC raised its position in shares of Illinois Tool Works by 1.3% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after acquiring an additional 46 shares during the period. Finally, Mcdonald Partners LLC raised its position in shares of Illinois Tool Works by 1.0% in the third quarter. Mcdonald Partners LLC now owns 4,796 shares of the industrial products company’s stock worth $1,104,000 after acquiring an additional 47 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $250.00 on Tuesday. The firm has a market cap of $74.69 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 3.68 and a beta of 1.13. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The company’s 50 day moving average is $260.40 and its two-hundred day moving average is $251.19.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business earned $2.34 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. Illinois Tool Works’s payout ratio is 57.49%.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays upped their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Truist Financial assumed coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Finally, Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $257.00.

Insider Activity

In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,471 shares of company stock worth $48,712,316. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.